Kathmandu, Dec. 11: The Confederation of Nepalese Industries (CNI) has urged newly proposed Nepali ambassadors to accord top priority to strengthening economic ties with their respective host countries.

Speaking at an economic dialogue with the ambassadors-designate held on Monday, President of CNI, Rajesh Kumar Agrawal, highlighted the critical role of ambassadors in linking foreign investors with Nepal’s investment opportunities through economic diplomacy.

Stressing on the need for country-specific economic strategies to promote investment and exports, he also urged all Nepali embassies to appoint a ‘focal contact person’ to facilitate interactions with both foreign and domestic investors.

He cited global examples to show that strong and stable economic relations often outlast political ties and stressed the importance of branding Nepal as a business-friendly destination.

“Nepal has conducted sovereign country rating recently and got a comparatively good rating. I am confident that this could attract investment in key sectors,” he said while adding that as the country is set to graduate to a developed country by 2026, there is a need to reassure the business community and investors that this transition would not affect Nepal’s trade privileges.

The country should strive for signing preferential trade agreements (PTAs) that align with Nepal’s interests, said Agrawal.

The CNI also underscored the need to focus on reducing the country’s high trade deficit by promoting Nepali goods, tourism, information technology, industry, hydropower, and infrastructure development.

Speaking on the occasion, Acting Foreign Secretary Amrit Bahadur Rai reminded the ambassadors of their responsibility to promote Nepali products and facilitate Nepali businesses in foreign markets. He urged them to help establish connections between Nepali entrepreneurs and foreign investors and to support the export of Nepali goods and services.

Ambassador designates, including Dr. Shankar Sharma, Sewa Lamsal, Chitralekha Yadav, Chandra Kumar Ghimire, Dr. Sumnima Tuladhar, Dr. Jung Bahadur Chauhan, Prof. Kapil Man Shrestha, Prakash Mani Paudel, Dr. Shiva Maya Tumbahamphe, Dr. Purna Bahadur Nepali and Dr. Netra Prasad Timilsina, pledged to represent Nepal’s interests effectively.

They affirmed their commitment to prioritising economic diplomacy and facilitating private-sector initiatives for the country’s economic development.